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六旗（FUN）与Liberty Global Ltd.（LBTYA）财务数据对比。点击上方公司名可切换其他公司
Liberty Global Ltd.的季度营收约是六旗的10.6倍（$2.4B vs $225.6M），Liberty Global Ltd.净利率更高（15.0% vs -119.0%，领先134.0%），六旗同比增速更快（11.7% vs -3.6%）
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
自由全球有限公司是一家英荷美合资的跨国电信企业，注册地位于百慕大，在伦敦、阿姆斯特丹和丹佛均设有总部。公司旗下拥有英国自由全球控股有限公司、荷兰自由全球有限公司及美国自由全球公司三大主体，其中英国主体为上市实体。企业由自由媒体国际业务部与UnitedGlobalCom于2005年合并成立，在全球电信服务领域拥有深厚的行业积累。
FUN vs LBTYA — 直观对比
营收规模更大
LBTYA
是对方的10.6倍
$225.6M
营收增速更快
FUN
高出15.3%
-3.6%
净利率更高
LBTYA
高出134.0%
-119.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $2.4B |
| 净利润 | $-268.6M | $358.2M |
| 毛利率 | — | — |
| 营业利润率 | — | 1.0% |
| 净利率 | -119.0% | 15.0% |
| 营收同比 | 11.7% | -3.6% |
| 净利润同比 | -22.2% | 127.1% |
| 每股收益（稀释后） | — | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收FUNLBTYA
| Q1 26 | $225.6M | $2.4B | ||
| Q4 25 | $650.1M | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $930.4M | $1.3B | ||
| Q1 25 | $202.1M | $1.2B | ||
| Q4 24 | — | $-1.4B | ||
| Q3 24 | $1.3B | $1.9B | ||
| Q2 24 | $571.6M | $1.9B |
净利润FUNLBTYA
| Q1 26 | $-268.6M | $358.2M | ||
| Q4 25 | $-92.4M | $-2.9B | ||
| Q3 25 | $-1.2B | $-90.7M | ||
| Q2 25 | $-99.6M | $-2.8B | ||
| Q1 25 | $-219.7M | $-1.3B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $111.0M | $-1.4B | ||
| Q2 24 | $55.6M | $268.1M |
毛利率FUNLBTYA
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 66.8% | ||
| Q3 25 | 91.6% | 67.5% | ||
| Q2 25 | 91.3% | 63.3% | ||
| Q1 25 | 89.3% | 65.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 91.9% | 69.4% | ||
| Q2 24 | 90.7% | 68.5% |
营业利润率FUNLBTYA
| Q1 26 | — | 1.0% | ||
| Q4 25 | -3.8% | -8.6% | ||
| Q3 25 | -83.7% | -0.7% | ||
| Q2 25 | 8.0% | 2.3% | ||
| Q1 25 | -158.9% | 5.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 19.5% | 5.2% | ||
| Q2 24 | 21.6% | 1.0% |
净利率FUNLBTYA
| Q1 26 | -119.0% | 15.0% | ||
| Q4 25 | -14.2% | -237.0% | ||
| Q3 25 | -90.1% | -7.5% | ||
| Q2 25 | -10.7% | -220.1% | ||
| Q1 25 | -108.7% | -114.2% | ||
| Q4 24 | — | -158.9% | ||
| Q3 24 | 8.2% | -74.1% | ||
| Q2 24 | 9.7% | 14.3% |
每股收益（稀释后）FUNLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-8.66 | ||
| Q3 25 | $-11.77 | $-0.27 | ||
| Q2 25 | $-0.99 | $-8.09 | ||
| Q1 25 | $-2.20 | $-3.84 | ||
| Q4 24 | — | $6.15 | ||
| Q3 24 | $1.10 | $-3.95 | ||
| Q2 24 | — | $0.71 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $116.5M | $-387.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | — |
| 总资产 | $7.7B | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FUNLBTYA
| Q1 26 | $116.5M | $-387.3M | ||
| Q4 25 | $91.1M | $2.2B | ||
| Q3 25 | $70.7M | $1.7B | ||
| Q2 25 | $107.4M | $3.1B | ||
| Q1 25 | $61.5M | $2.0B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | $89.7M | $3.3B | ||
| Q2 24 | $52.9M | $3.2B |
总债务FUNLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | $7.8B | ||
| Q3 25 | $5.0B | $7.8B | ||
| Q2 25 | $5.3B | $7.8B | ||
| Q1 25 | $5.0B | $8.2B | ||
| Q4 24 | — | $8.2B | ||
| Q3 24 | $4.6B | $14.9B | ||
| Q2 24 | $2.3B | $14.7B |
股东权益FUNLBTYA
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $9.7B | ||
| Q3 25 | $614.3M | $12.7B | ||
| Q2 25 | $1.8B | $13.0B | ||
| Q1 25 | $1.8B | $12.6B | ||
| Q4 24 | — | $12.4B | ||
| Q3 24 | $2.3B | $18.7B | ||
| Q2 24 | — | $18.3B |
总资产FUNLBTYA
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $22.6B | ||
| Q3 25 | $7.9B | $25.4B | ||
| Q2 25 | $9.5B | $27.2B | ||
| Q1 25 | $9.2B | $26.0B | ||
| Q4 24 | — | $25.4B | ||
| Q3 24 | $9.4B | $41.8B | ||
| Q2 24 | $2.3B | $40.8B |
负债/权益比FUNLBTYA
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | 0.80× | ||
| Q3 25 | 8.16× | 0.61× | ||
| Q2 25 | 2.97× | 0.60× | ||
| Q1 25 | 2.75× | 0.65× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | 1.95× | 0.80× | ||
| Q2 24 | — | 0.80× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $107.6M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | 1.5% |
| 现金转化率经营现金流/净利润 | — | 0.30× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FUNLBTYA
| Q1 26 | — | $107.6M | ||
| Q4 25 | $-37.7M | $630.9M | ||
| Q3 25 | $356.2M | $301.8M | ||
| Q2 25 | $187.0M | $149.2M | ||
| Q1 25 | $-178.0M | $129.2M | ||
| Q4 24 | — | $791.6M | ||
| Q3 24 | $337.4M | $449.5M | ||
| Q2 24 | — | $546.1M |
自由现金流FUNLBTYA
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $193.3M | ||
| Q3 25 | $256.2M | $-41.1M | ||
| Q2 25 | $18.8M | $-170.1M | ||
| Q1 25 | $-318.0M | $-114.1M | ||
| Q4 24 | — | $712.9M | ||
| Q3 24 | $227.7M | $102.4M | ||
| Q2 24 | — | $256.8M |
自由现金流率FUNLBTYA
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 15.7% | ||
| Q3 25 | 19.4% | -3.4% | ||
| Q2 25 | 2.0% | -13.4% | ||
| Q1 25 | -157.4% | -9.7% | ||
| Q4 24 | — | -50.5% | ||
| Q3 24 | 16.9% | 5.3% | ||
| Q2 24 | — | 13.7% |
资本支出强度FUNLBTYA
| Q1 26 | — | 1.5% | ||
| Q4 25 | 11.0% | 35.5% | ||
| Q3 25 | 7.6% | 28.4% | ||
| Q2 25 | 18.1% | 25.2% | ||
| Q1 25 | 69.3% | 20.8% | ||
| Q4 24 | — | -5.6% | ||
| Q3 24 | 8.1% | 17.9% | ||
| Q2 24 | — | 15.4% |
现金转化率FUNLBTYA
| Q1 26 | — | 0.30× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | — | 2.04× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
LBTYA
| Mobile Service | $775.2M | 32% |
| Fixed Service | $772.0M | 32% |
| Business | $308.7M | 13% |
| Wholesale | $256.9M | 11% |
| Business Service | $233.2M | 10% |
